Azerbaijani's SOCAR lowers oil export through Russia's Novorossiysk by 21.7%

The State Oil Company of the Azerbaijan Republic (SOCAR) contracted its year-on-year oil export through the Russian port of Novorossiysk by 21.7% in January - August 2016 to 728,768 tonnes, the company said on Thursday.


SOCAR shipped 930,671 tonnes of oil through the port of Novorossiysk in the like period of 2015.


Oil shipment from Novorossiysk being the destination of the Baku - Novorossiysk pipeline equaled 169,700 tonnes in August 2016 versus 84.900 tonnes last August.


The Azeri oil is transported via the pipeline under the contract signed between SOCAR and Russia's pipeline operator Transneft at the turn of February 2016. The framework throughput under the contract totals 1.3 mln tonnes, approximately in line with prior years' throughput.

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